Conservatives Will Crack Down on Tax Cheats
Poilievre will ensure the ultra-rich can no longer hide their money abroad to avoid paying their fair share at home, while working Canadians get punished with higher taxes.
April 8, 2025
FOR IMMEDIATE RELEASE
Edmonton, AB — While hard-working Canadians rush to file their taxes, terrified of audits and squeezed by rising costs and higher taxes, the Liberals are helping billionaires and big businesses dodge paying their fair share. But at least one person isn’t sweating over his taxes this year: Mark Carney.
While Canadians struggle to make ends meet, Carney stashed his Brookfield funds above a bike shop in Bermuda—one of the world’s most notorious tax havens. According to KPMG, Bermuda has no capital gains tax, dividend tax, or withholding tax, making it one of the most attractive tax havens for the global rich like Carney who want to avoid the taxes they impose on the rest of us.
While Carney advised Trudeau to hike taxes on working Canadians, he made sure his company’s profits stayed offshore, beyond the reach of the CRA. These were calculated decisions to dodge Canadian taxes while the Trudeau government squeezed small businesses and middle-class families to pay for their skyrocketing spending.
“In Carney’s Canada, there’s a two-tier tax code: one for the rich like him, and one for everyone else,” said Conservative Leader Pierre Poilievre. “While you’re double-checking your tax return to avoid a penalty, Carney and his friends dodge theirs and then tax you more to make up the difference.”
Last year alone, the Liberals, with Carney advising them, wrote off $5 billion in corporate taxes—including $1 billion for just five companies. Meanwhile, the CRA was busy auditing small businesses and charities.
A Poilievre government will end Carney’s two-tier tax system, where elites get loopholes and working people get audited.
Conservatives will:
- Close Carney’s offshore tax loopholes. Poilievre has already announced that he will appoint a Bring It Home Tax Task Force to make tax rules fairer, simpler and easier to administer. The same task force will also ensure that we close all the loopholes that allow companies like Brookfield to stash their money in offshore tax havens to avoid paying their fair share here in Canada.
- Redirect CRA resources away from auditing and harassing small business owners and charities towards cracking down on offshore tax havens — collecting at least $1 billion more every year from those who try to hide their wealth overseas.
- Create a name-and-shame website to expose all the wealthy multinational corporations that are dodging taxes and refusing to pay their fair share.
- Expand the Offshore Tax Informant Program, giving whistleblowers up to 20% of recovered funds when they help expose illegal tax schemes.
“After the Lost Liberal Decade, Canadians earn less, are taxed more, and pay higher prices for everything. But well-connected Liberal insiders like Mark Carney have never had it so good,” said Poilievre. “It’s time to flip the script. My new Conservative Government will put hard-working Canadians First—For a Change, letting them keep more of what they earn, while cracking down on offshore tax havens for rich insiders.”
